Activism in Banking: Hedge fund HoldCo, led by Vik Ghei and Misha Zaitzeff, is challenging regional banks with over $200 billion in assets, demanding accountability from CEOs and boards, and has initiated campaigns against several banks, including a proxy battle against Columbia Bank.
Recent Success: HoldCo achieved a significant victory with Comerica's merger with Fifth Third for $10.9 billion, marking the largest bank merger of the year, and has since targeted smaller banks like Eastern Bank and First Interstate for similar activist campaigns.
Critique of Bank Management: The founders of HoldCo argue that many regional bank CEOs prioritize personal financial gain over shareholder interests, leading to underperformance and excessive compensation, which they aim to rectify through public pressure and proxy battles.
Market Impact and Future Plans: HoldCo's activism is gaining traction in the banking sector, prompting other banks to reassess their capital plans in anticipation of scrutiny, while the firm plans to continue its campaigns and publish reports on banks that fail to protect shareholder value.
Wall Street analysts forecast EBC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EBC is 21.67 USD with a low forecast of 20.00 USD and a high forecast of 23.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
Wall Street analysts forecast EBC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EBC is 21.67 USD with a low forecast of 20.00 USD and a high forecast of 23.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 19.430
Low
20.00
Averages
21.67
High
23.00
Current: 19.430
Low
20.00
Averages
21.67
High
23.00
TD Cowen
Buy
maintain
$22 -> $23
2026-01-07
New
Reason
TD Cowen
Price Target
$22 -> $23
2026-01-07
New
maintain
Buy
Reason
TD Cowen raised the firm's price target on Eastern Bankshares to $23 from $22 and keeps a Buy rating on the shares. The firm adjusted bank targets as part of a Q4 earnings preview. TD expects "solid" Q4 reports for the banks with continued balance sheet growth, repricing tailwinds, and a "likely more dovish" Federal Reserve chair in 2026. These "durable tailwinds" should lift bank stocks in 2026, the analyst tells investors in a research note.
Hovde Group
NULL -> Outperform
initiated
$22.50
2026-01-05
Reason
Hovde Group
Price Target
$22.50
2026-01-05
initiated
NULL -> Outperform
Reason
Hovde Group initiated coverage of Eastern Bankshares with an Outperform rating and $22.50 price target.
Barclays
Jared Shaw
Equal Weight
initiated
$22
2025-12-17
Reason
Barclays
Jared Shaw
Price Target
$22
2025-12-17
initiated
Equal Weight
Reason
Barclays analyst Jared Shaw initiated coverage of Eastern Bankshares with an Equal Weight rating and $22 price target. The company has "optionality" given its high capital levels, good commercial platform, and solid deposit base, the analyst tells investors in a research note. However, the integration of two large mergers in two years and Eastern's slower growth markets could pose headwinds relative to its peers, the analyst tells investors in a research note.
TD Cowen
TD Cowen
Buy
initiated
$23
2025-09-24
Reason
TD Cowen
TD Cowen
Price Target
$23
2025-09-24
initiated
Buy
Reason
TD Cowen initiated coverage of Eastern Bankshares with a Buy rating and $23 price target. The firm rolled out coverage on the mid and small cap banks with a bullish view. The group is trading at a \"sizable valuation discount\" to historical averages, with catalysts ahead from improving net interest margins, renewed loan growth, and banks \"going on offense with capital.\" TD sees one of the most attractive entry points in decades for the group. The firm's top picks, in order, are Western Alliance (WAL), Customers Bancorp (CUBI), East West Bancorp (EWBC), MVB Financial (MVBF), Live Oak Bancshares (LOB), Valley National (VLY), and Atlantic Union (AUB).
About EBC
Eastern Bankshares, Inc. is the holding company for Eastern Bank (The Bank). Eastern Bank is a local bank with approximately 109 branch locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. The Company provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management division. Its diversified products and services include lending, deposit, and wealth management. offer a range of demand deposit accounts, interest checking accounts, money market accounts, savings accounts and time certificates of deposit accounts. Its lending focuses on the various loan categories: commercial and industrial, including its asset-based lending portfolio, commercial real estate, commercial construction, small business banking, residential real estate and home equity loans.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
